Form Ia 1120 - Iowa Corporation Income Tax Return - 2014
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4Iowa Department of Revenue
2014 IA 1120
Iowa Corporation Income Tax Return
Office Use Only
Step 1
Tax Period:
____ / _____ / ____ to _____ / ____ / _____
Postmark
▲
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Address Change
Check the box if:
Short Period
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Corporation Name and Address
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Federal Employer Identification Number (FEIN):
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County No:
Business Code:
▲
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Is this a first or final return? If yes, check the appropriate box.
Successor
First Return:
New Business
Entering Iowa
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Reorganized
Merged
Dissolved
Name of contact person:
Final Return:
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Withdrawn
Bankruptcy
Phone:
(
)
Other
Step 2 Filing Status
Filing Status:
1 Separate Iowa/Separate Federal .....
2 Separate Iowa/Consolidated Federal ....
3 Consolidated Iowa/Consolidated Federal ..
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Type of Return:
1 Regular Corporation ........................
2 Cooperative ..........................................
3 UBIT .........................................................
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Is this an inactive corporation?
Yes
No
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Was federal income or tax changed for any prior period?
Yes
No
Period(s)
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Do you have property in Iowa?
Yes
No
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Use whole dollars
Step 3
1.
Net Income from federal return before federal net operating loss .................................................................. 1.
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Net Income
2.
50% of federal tax refund...... Accrual
Cash
..................................................................................
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2.
and
Additions to
3.
Other additions from Schedule A ..............................................................................................................
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3.
Income
4.
Net Income after additions. Add lines 1 through 3. ......................................................................................
4.
Step 4
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5.
50% of federal tax paid or accrued ..... Accrual
Cash
....................................................................
5.
Reductions
6.
Other reductions from Schedule A ..............................................................................................................
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6.
to Income
7.
Total Reductions. Add lines 5 and 6. ........................................................................................................
7.
8.
Net income after reductions. Subtract line 7 from line 4. ...........................................................................
8.
Step 5
9.
Nonbusiness income from Schedule D, line 17 .........................................................................................
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9.
Taxable
10.
Income subject to apportionment. Subtract line 9 from line 8. ...................................................................
10.
Income
11.
Iowa percentage from Schedule E. (See Instructions) ..............................................................................
%
11.
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12.
Income apportioned to Iowa. Multiply line 10 by line 11. ...........................................................................
12.
13.
Iowa nonbusiness income from Schedule D, line 8 ...................................................................................
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13.
14.
Income before Net Operating Loss. Add lines 12 and 13. .........................................................................
14.
15.
Net Operating Loss Carryforward from Schedule F. Include Schedule F. ..................................................
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15.
16.
Income subject to tax. Subtract line 15 from line 14. Do not enter an amount below $0. ...........................
16.
Step 6
17.
Computed tax (For tax rates, see bottom of page 3.) Check box if tax is annualized
..........................
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17.
Tax, Credits
18.
Alternative Minimum Tax from page 4, Sch. IA 4626. Check box if claiming small business exemption.
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18.
and
Payments
19.
Total tax. Add lines 17 and 18. ................................................................................................................
19.
20.
Credits from Schedule C1, line 4. Do not include estimated tax credit. ................................. 20.
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21.
Payments from Schedule C2, line 4 ...................................................................................... 21.
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22.
Total credits and payments. Add lines 20 and 21. .....................................................................................
22.
23.
Net amount. Subtract line 22 from line 19. ................................................................................................
23.
Step 7
24.
Tax due if line 23 is greater than $0 ..........................................................................................................
24.
Balance Due
25.
Penalty (Underpayment of estimated tax) Include IA 2220 ........................................................................
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25.
26.
Penalty (Failure to Timely Pay or Failure to Timely File) ...........................................................................
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26.
27.
Interest .....................................................................................................................................................
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27.
28.
Total amount due. Add lines 24 through 27. Make check payable to “Treasurer, State of Iowa” ................
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28.
Step 8
29.
Overpayment if line 23 is less than $0 ......................................................................................................
29.
Overpayment
30.
Credit to next period’s estimated tax .........................................................................................................
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30.
31.
Refund requested. Subtract line 30 from line 29. ......................................................................................
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31.
A complete copy of your federal return, as filed with the Internal Revenue Service, must be filed with this return. For filing status 2 or 3, you must include
pages 1-5 of your consolidated federal return, consolidating income statements, Iowa Schedule H and any other forms related to the Iowa return.
42-001a (10/07/14)
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